Jefferies Reiterates a 'Hold' on Equity Residential (EQR); N-T Fundamentals Should Remain Strong, But Premium Valuation Reflects This

Jefferies reiterates a 'Hold' on Equity Residential (NYSE: EQR) price target raised from $54 to $57.

Jefferies analyst says, "We are maintaining our 2012 normalized FFO/sh estimate of $2.75, which compares to mgmt's 2012 normalized FFO/sh guidance range of $2.68-$2.78. We introducing our 2013 normalized FFO/sh estimate of $2.99, which compares to consensus estimate of $3.00. As a result of our earnings revisions, and updates to our DDM, we are raising our PT. We are maintaining our Hold rating on EQR shares as we believe current valuation levels more than adequately reflect EQR's near-term earnings and dividend growth profile."

For an analyst ratings summary and ratings history on Equity Residential click here. For more ratings news on Equity Residential click here.

Shares of Equity Residential closed at $59.70 yesterday.

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